The Colony's Professional Building | 521 E 86th Ave
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The Colony's Professional Building 521 E 86th Ave
32,792 SF 82% Leased Office Building Merrillville, IN 46410 £1,892,811 (£58/SF) 7.04% Net Initial Yield
Investment Highlights
- ±32,792 SF Single Story Office on 2.83 AC
- Private Entry | Private Restrooms
- Ample Parking | 138 Spaces
- Executive & Medical Offices
- Low Lake County Taxes ($1.41/SF)
- Monumental Signage
Executive Summary
SVN is pleased to present The Colony's Professional Office Building at 521 E. 86th Avenue in Merrillville, Indiana. This ±32,792 SF single-story free-standing brick office building is on 2.83 AC. This property features 12 executive and medical suites and many office configurations for a variety of tenant sizes and use requirements. Private entry, restroom, kitchenette, conference room, co-working space, and signage. Priced below replacement cost. Perfect opportunity for owner/user, medical/dental professional, executive office user, or investor.
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Medical
Building Size
32,792 SF
Building Class
B
Year Built/Renovated
1979/1985
Price
£1,892,811
Price Per SF
£58
Net Initial Yield
7.04%
NOI
£133,248
Percent Leased
82%
Tenancy
Multiple
Number of Floors
1
Typical Floor Size
32,792 SF
Building FAR
0.27
Land Acres
2.83 AC
Parking
45 Spaces (1.37 Spaces per 1,000 SF Leased)
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
Medical or Executive Office
Medical or Executive Office
Medical or Executive Office
Medical or Executive Office
Medical or Executive Office
| Space | Size | Space Use | Condition | Available |
| 1st Fl-Ste F | 1,125 SF | Office/Medical | - | Now |
| 1st Fl-Ste I | 1,009 SF | Office/Medical | - | Now |
| 1st Fl-Ste S | 2,625 SF | Medical | - | Now |
| 1st Fl-Ste V | 1,200 SF | Medical | - | Now |
| 1st Fl-Ste Z | 13,195 SF | Medical | - | 30 Days |
1st Fl-Ste F
| Size |
| 1,125 SF |
| Space Use |
| Office/Medical |
| Condition |
| - |
| Available |
| Now |
1st Fl-Ste I
| Size |
| 1,009 SF |
| Space Use |
| Office/Medical |
| Condition |
| - |
| Available |
| Now |
1st Fl-Ste S
| Size |
| 2,625 SF |
| Space Use |
| Medical |
| Condition |
| - |
| Available |
| Now |
1st Fl-Ste V
| Size |
| 1,200 SF |
| Space Use |
| Medical |
| Condition |
| - |
| Available |
| Now |
1st Fl-Ste Z
| Size |
| 13,195 SF |
| Space Use |
| Medical |
| Condition |
| - |
| Available |
| 30 Days |
1st Fl-Ste F
| Size | 1,125 SF |
| Space Use | Office/Medical |
| Condition | - |
| Available | Now |
Medical or Executive Office
1st Fl-Ste I
| Size | 1,009 SF |
| Space Use | Office/Medical |
| Condition | - |
| Available | Now |
Medical or Executive Office
1st Fl-Ste S
| Size | 2,625 SF |
| Space Use | Medical |
| Condition | - |
| Available | Now |
Medical or Executive Office
1st Fl-Ste V
| Size | 1,200 SF |
| Space Use | Medical |
| Condition | - |
| Available | Now |
Medical or Executive Office
1st Fl-Ste Z
| Size | 13,195 SF |
| Space Use | Medical |
| Condition | - |
| Available | 30 Days |
Medical or Executive Office
PROPERTY TAXES
| Parcel Number | 45-12-27-103-003.000-030 | Improvements Assessment | £1,064,380 |
| Land Assessment | £452,281 | Total Assessment | £1,516,661 |
PROPERTY TAXES
Parcel Number
45-12-27-103-003.000-030
Land Assessment
£452,281
Improvements Assessment
£1,064,380
Total Assessment
£1,516,661
-
Karen Kulczycki -
Jess Lawhead, CCIM -
SVN | Chicago Commercial
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The Colony's Professional Building | 521 E 86th Ave
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